Benefits of Solar Energy
Solar energy offers multiple perks. Here are some highlights.
- Lowered energy bills: With a solar array, you create power without paying the tacked-on costs of grid-connected power. You can eliminate your bills completely if you go off-grid. Plus, a significant amount of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Better energy independence: Adding a solar battery storage system lets you have reliable energy during grid outages and storms.
What Solar Incentives Are Available to Prescott Valley Homeowners?
Governments and utilities often incentivize homeowners for going solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
Incentive Type: Sales Tax Incentive
Incentive Amount:
100% of sales tax on eligible equipment
Incentive Type: Personal Tax Credit
Website: azdor.govIncentive Amount:
25%
Incentive Type: Personal Tax Deduction
Incentive Amount:
Total cost, exclusive of taxes, interest and other finance charges
Incentive Type: Property Tax Incentive
Incentive Amount:
100% of increased value
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Prescott Valley
Choosing a company is the first step toward a well-oiled and valuable solar energy system. Consider each of these aspects in your company search.
Licensing and Training
The Arizona Registrar of Contractors grants separate licenses for solar thermal and PV installers. To install solar thermal systems, a contractor must be a licensed plumber, and for solar PV systems, they must be a licensed electrician. You should also visit a company's website to learn about its private credentials. Two of the most prestigious are the PV Installation Professional and Solar Heating Installer certificates, awarded by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Prescott Valley
The style of solar panels you choose decides how much power you can generate. Monocrystalline panels and high-quality and cost more but give you the best performance. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.
If you want to charge an electric car or use your solar power in dark weather, you can pay extra for accessories. By selecting the right components, you can make your panel array more efficient and convenient to use. Not all solar contractors include these extras, so look for a company that sells them if it's a priority for you.
A majority of Prescott Valley homeowners choose solar systems rated for five kilowatts (kW) of electrical capacity. These systems cost about $15,350 to install, considering both parts and installation. You can find more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,104 |
| Solar Polycrystalline | $861 |
| Thin-Film | $503 |
| Solar Battery | $707 |
| Solar Home EV Charger | $2,649 |
Financing Solar Energy in Prescott Valley
There are various ways to pay for a new solar system, and the right one will reduce your expenses. A few of the most common options include power purchase agreements (PPAs), cash payments, leases, and loans. Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like a car or home loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a power purchase agreement lets you pay a fluctuating rate based on only the energy you use. We generally advise against these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in certain circumstances. Ask each installer you're evaluating about the payment plans it offers. A staff member can help you determine the most suitable option for your pocketbook.
The table below lists the average payback periods for different capacities of solar systems in Prescott Valley.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Municipal and state governments and utility companies might also offer rebates, discounts, and specialized financing options that could save you more.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 1.7 years |
| 2 kW | 3.3 years |
| 5 kW | 8.3 years |
| 10 kW | 16.5 years |
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Frequently Asked Questions About Solar in Prescott Valley
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in Prescott Valley?
Should I anticipate a boost in my property value after going solar?
How many years does a typical solar system last?
How do I care for my new solar system?
What size should my new Prescott Valley solar system be?
What are the signs I shouldn't use a particular solar company for my job?
- Pressuring you into signing a contract
- Dodging questions about references, credentials and training, cost and warranties
- "One-size-fits-all" approach
- Not thoroughly inspecting your site
- More mixed or negative reviews than positive ones
How are a solar lease and PPA different?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.
